The Indian Renewable Energy Development Agency (IREDA), a state-owned entity, has entered into an initial agreement with Bank of Maharashtra (BoM) to finance renewable energy projects. This partnership aims to promote and facilitate co-lending and loan syndication for a wide range of renewable energy initiatives throughout the country. The Memorandum of Understanding (MoU) encompasses various services, including co-lending and co-origination support for all renewable energy projects, facilitating loan syndication and underwriting, managing trust and retention accounts for IREDA borrowers, and establishing stable fixed interest rates over a 3-4 year period for IREDA borrowings. Under the agreement, BoM can invest in IREDA’s bonds in line with specified terms and conditions.